The main challenges we’ve faced with: The Parties could verify the signature authenticity and assure the Parties of the immutability of the latest version of the signed document.
Ways of implementation:
Putting a hash on a public blockchain can be done in many ways but the most common one is including it as info in the transaction block.
Develop a solution that will allow owners of documents confirm, transfer and share their ownership and have information of the latest signed document on the blockchain.The development of backend and frontend, development and audit of Ethereum smart contracts, blockchain consulting and business analysis.
The Parties could verify the signature authenticity and assure the Parties of the signed documents immutability . It allows eliminate the intermediaries and allows the users using the affordable legal services.
Users of the platform: B2C users who want to create the agreements and sign digitally via the trustworthy system on behalf of the verified user ( using blockchain for data immutability)
Solution: Ethereum based DApp.
Technologies: RoR, Web3, VueJS, Solidity.
Does notarization on blockchain bring value for the end users and the business owner? Lots of the legal companies consider it like a dead technology, however we’ve launched the POC that proves the opposite. The main challenges that all common services have been faced with: assuring the legal compliance for end users by using blockchain technology. We’ve been working more that 4 years on the platform for managing the documents and suggested developing a solution that will allow owners of documents confirm, transfer and share their ownership on the blockchain. As the platform was in production, initially it was suggested considering it with the existing clients and got very positive feedback. From the tech perspective, it was considered to putting hashes of documents on public blockchains and as the hash is forever stored, so you can easily alway check out the latest version of the signed document and validation of the signature done by authorized persons. Our POC was based on public blockchain (Ethereum) via including it as info in the transaction block.
The main challenges we’ve faced with: The Parties could verify the signature authenticity and assure the Parties of the immutability of the latest version of signed document.The main challenges: confirm the personal identity and the business entity identity for connecting the specific ETH address with the ID service providers.
1) Stampery - stamp.io seems abandoned, the proof isn't coming through and competing services seem to have disappeared off the internet. Stampery gained notoriety because they partnered with microsoft to provide free notarization of documents on the blockchain.
2) Silent Notary - Silent Notary - is a multiplatform decentralized service for confirmation of event existence. SilentNotary converts an event into legally significant evidence, excluding the possibility of falsification.